Quattrocentist

The world this week

Business this weekNov 26th 2009
From The Economist print edition

The government of Dubai requested a six-month “standstill(停頓)” from creditors on paying back debt accumulated by Dubai World, causing a prompt(迅速的) downgrade(向下) to government-related debt from credit-rating agencies. The state-owned conglomerate(企業集團) is behind some of the Gulf emirate(酋長國)’s most ambitious ventures of recent years, including the Palm Jumeirah residential resort. Once feted(招待) by businessmen the world over, Dubai’s government and state-backed companies are reckoned(估計) to have racked up(累計) as much as $80 billion in debt.

It emerged(顯露) that Facebook has introduced a dual-class share structure—similar to the way Google organises its shareholders’ voting rights—which tightens the grip(緊握) on the privately held company of Mark Zuckerberg, its co-founder and chief executive. The news was taken as (yet another) indication(徵兆) that the social-networking site is preparing for an initial public offering.

Black Saturday

A glitch(小故障) prevented shoppers from searching eBay’s website on the Saturday before Thanksgiving, which was blamed on a surge(波濤) in listings from users and retailers(零售商).

Europe’s competition regulator(管理者) dropped a four-year investigation into claims that Qualcomm, a chipmaker based in San Diego, used unfair practices when distributing patent(專利) licences by giving favourable treatment to companies that bought its chipsets. In 2005 six of Qualcomm’s rivals(競爭者) and customers lodged(提出) the complaints, which have since been withdrawn as each reached a favourable settlement(解決) with the company.

American International Group settled its dispute with Hank Greenberg, the insurance company’s former boss. Mr Greenberg left AIG amid(在...之中) an accounting scandal in 2005 and a falling-out over money and management. As part of the settlement, AIG will drop a $1 billion claim against Mr Greenberg, pay his legal fees and return personal items.

Mervyn King, the governor of the Bank of England, revealed how close Royal Bank of Scotland and HBOS came to collapse in October 2008. After Lehman Brothers declared bankruptcy, both banks had trouble raising funds in the markets and turned to the central bank, which lent them £62 billion ($103 billion) in emergency aid. Mr King revealed the details of the rescue now because both companies are considered to be stable. In 2007 news that Northern Rock received loans from the state led to a run on the bank.

The European Central Bank said it would tighten its rating standards for the asset(資產)-backed securities that euro-area banks use as collatera(擔保品)l when seeking liquidity(流動資產) from the central bank. The move forms part of the ECB’s plan gradually to withdraw the emergency measures it introduced during the financial crisis.

Sales(銷售(額)) of both new and previously owned homes in America rose sharply in October, with sales of existing homes reaching a level last seen in February 2007. Much of the increase was caused by homebuyers rushing to take advantage of a tax(稅金) credit that was due to expire by November 30th, but which Congress has extended to April.

As safe as houses




Data from America’s Federal Deposit(存款) Insurance Corporation highlighted(凸顯) the difficulties that persist in the banking sector. The number of “problem” lenders(貸方) that the FDIC lists grew to 552 in the third quarter, the highest number in 16 years. And confirming the reluctance(不情願) of banks to loosen their lending policies, total loan balances(結餘) held by financial institutions fell by 3%, the fastest pace since 1984.

Hakan Samuelsson shocked corporate Germany by resigning with immediate effect as chief executive of MAN, a truckmaker. Mr Samuelsson was viewed as an able manager, though he had clashed(發生衝突) in the past with Ferdinand Piëch, the chairman of both MAN and Volkswagen, which holds a 30% stake(股份) in MAN. The companies were rivals in an epic(如史詩般壯麗的) battle in 2006 for control of Scania, a Swedish rival.

Koenigsegg, a tiny maker of high-performance cars based in Sweden, pulled out of an agreement to buy Saab from General Motors. The deal was announced in June, but Koenigsegg’s acquisition(收購) of Saab depended on a financing arrangement(協議) with the Swedish government which it was unable to secure. Meanwhile GM said it would keep its four factories in Germany open as it restructures(改組) its European operations.

Red eyes all roundThree airlines were fined(罰款) $175,000 for holding travellers in the cabin overnight on a flight that was diverted(改道) to Rochester, Minnesota, in August because of bad weather. It is the first such penalty imposed(強加) for stranding(處於困境) passengers by the government.

[ 本帖最後由 qwers00033269 於 2009-12-3 01:35 編輯 ]

d9405401

謝謝大大的分享
真的是值得收藏
英文真的太重要了